Once financing closes and the permits have been secured, construction is scheduled to begin in early June, with completion expected by the end of the year. It is hoped that more than 200 Ohio construction jobs will be created.
The well-known food company has entered into a Power Purchase Agreement (PPA) and Land Lease Agreement (LLA) with BNB Napoleon Solar LLC to build the system on 60 acres of land at its largest plant in Napoleon. When complete, it is expected to provide around 15 percent of the electricity to the plant annually, and produce over 14.7 million kilowatt hours during its first year of operation.
According to Campbell, it will lease the land to BNB, which will own the system and be responsible for its financing, construction, operation and maintenance. Under the PPA, the company will then purchase 100 percent of the generated electricity. Meanwhile, FirstEnergy Solutions will purchase the Solar Renewable Energy Credits (SRECs) from the project.
To help with financing, the Ohio Enterprise Bond Fund agreed to issue USD$10.5 million in bonds. BNB is also in final contract negotiations with SunPower Corporation for the engineering, procurement and construction of the project.
"With the signing of the agreements, the detailed design and construction of the system can now begin and we should be in operation by the end of this year," said Robert Shober, VP – Engineering. "We are excited to be hosting this facility, which when completed will consist of approximately 24,000 high efficiency solar modules, making it one of the largest such systems in the United States."